StanChart invests in young people

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BRITISH financial institution Standard Chartered Bank (StanChart) says it is committed to invest in the future of Zimbabwe.

StanChart Zimbabwe chief executive Ralph Watungwa said the bank has launched its flagship corporate social responsibility initiative — Futuremakers — as a way of empowering young people.

“As a bank we have proudly declared that we are here for good — and that has not changed. However, in 2018, we challenged ourselves to say that doing good enough was not going to change the world,” he said.

“Futuremakers has been developed with exactly this philosophy at its core — doing and investing where we can and will see tangible sustainable results in the lives of our youth. Futuremakers is therefore a journey, not a moment or collection of moments.”

As part of the launch, StanChart handed over a donation of $500 000 to Junior Achievement Zimbabwe to run the tailor designed Futuremakers programme for the next three years.

Futuremakers is the bank’s global initiative to tackle the issue of inequality and seeks to promote greater economic inclusion for young people in communities across the globe. The programme supports disadvantaged young people from low-income households, particularly girls and people with visual impairments, to take part in programmes focused on education, employability and entrepreneurship.

The initiative’s goal is to raise US$50 million — through fundraising and bank-matching — between 2019 and 2023 to empower the next generation to learn, earn and grow.

StanChart identified JAZ as a partner on the inaugural programme in Zimbabwe to drive the Financial Education piece.

JAZ was established in 1998 and offers unique and experiential programmes focusing on entrepreneurship and financial literacy. The aim is to open and realise opportunities for young people to find a job and become independent. JAZ will drive the Financial Education pillar under Futuremakers to both primary and secondary schools across the country.

Reserve Bank of Zimbabwe deputy governor Jesimeni Chipika said the two organisations should drive the financial education agenda which is key to the development of Zimbabwe.

StanChart will lend additional support through the bank’s established employee volunteering programme.

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